On completion of this course the student will be able to:

• Describe the estimation-composition of the national product
• Define the national product
• Describe the role of the public and private sectors in determining the national income
• Use basic macroeconomic models to explain how the general equilibrium is defined and to estimate basic macroeconomic variables (real GDP, level of employment, unemployment rate, the level of prices, investment and savings.
• Analyse the short- and long-term consequences of applied economic policies and of exogenous events.

Describe alternative theoretical macroeconomic approaches and understand the existing/current juxtapositions on the consequences of applied macroeconomic policies